Reference no: EM132838592
Pearce & Sons started Business in Feb 2020. They have the following transactions at for the month of Feb 2020.
2020
Feb 1 Started business with; £21,500 in the bank account,
a van £25,000 and office fixtures £800
2 A loan of £2,500 was received from Lloyds Bank.
3 The amount of £1500 was transferred from Bank Account to Cash in hand account.
4 Bought Van paying by cheque £4,800
5 Bought office fixtures £1100 on credit from Quick Office Ltd
8 Bought a new van on credit from Nissan Co. £5,200
15 Bought office fixtures paying by cash £70
19 Paid Nissan Co. a cheque for whole amount of debt
25 Paid £350 of the cash in hand into the bank account
28 Bought new office fixtures paying via bank account £620
Required:
Problem a. Write up the transactions in the general ledger (T Accounts) of Pearce & Sons
Problem b. Balance up the accounts and extract a Trial Balance as at 28 Feb 2019.